- Ethereum sees a $4.34B surge in fresh capital over two weeks, signaling renewed investor confidence and potential for a sustained rally.
- Institutional interest rises, with Fidelity’s ETF adding 3,498 ETH and whales like Cumberland withdrawing tens of thousands of ETH from exchanges.
- ETH nears key resistance at $1,829, with technicals hinting at a breakout; price targets of $1,950–$2,000 are possible if support holds.
Ethereum (ETH) is back in the spotlight as new on-chain data reveals a surge in investor activity and capital inflows, suggesting a revival in market confidence. Insights from leading analytics platforms Glassnode and Lookonchain show that both retail and institutional players are positioning for what may be a pivotal moment in Ethereum’s market trajectory.
According to Glassnode, Ethereum’s “Hot Capital,” a metric tracking fresh investment over short timeframes, has jumped significantly in recent weeks. On April 17, the figure stood at $2.60 billion. By April 28, that number had ballooned to $4.34 billion, marking a 67% surge in less than two weeks.
This sharp increase signals that new capital is flowing rapidly into the Ethereum ecosystem, a shift that often coincides with renewed investor confidence. The move is particularly notable given that Hot Capital had previously plummeted by 52% from its December 2024 high during a February correction.
Ethereum ETF and Whale Moves
Some of this inflow may be linked to recent ETF developments. Fidelity’s FBTC ETF was reported to have added 3,498 ETH valued at approximately $6.48 million to its holdings, suggesting institutional vehicles are playing a role in this resurgence.
Whale wallets are also making significant moves. Lookonchain identified a wallet tied to trading firm Cumberland that withdrew 27,632 ETH worth roughly $50.24 million from major exchanges including Copper, Binance, and Coinbase. Large-scale withdrawals of this kind are often interpreted as a signal that whales are preparing for potential price appreciation by moving assets into cold storage.
However, not all large holders are adopting a bullish stance. One whale, after acquiring 14,994 ETH at $1,801, sold 10,511 ETH at $1,828, realizing short-term gains. The same wallet still holds 4,491 ETH purchased at $1,797, highlighting the mixed strategies among big players.
Ethereum Eyes Breakout Near Resistance
As of publication, Ethereum is trading at $ 1,802.35 with a 24-hour trading volume of $ 17.10B and a market cap of $ 217.71B. The ETH price increased 0.20% in the last 24 hours. A breakout above this level could trigger a stronger upward move.
Previous technical analysis suggests a breakout from the current flag pattern could push ETH as high as $8,000 over a longer timeframe.
Supporting this bullish outlook are rising whale net flows and a recent MACD bullish crossover. If ETH maintains strong support above $1,800, price targets of $1,950 and $2,000 could be well within reach in the coming weeks, especially amid improving market sentiment and growing institutional interest.
However, caution is warranted. The Relative Strength Index (RSI) currently signals overbought conditions, which could lead to a short-term pullback. In that scenario, $1,750 is expected to serve as a key support zone, cushioning potential downside pressure in the near term.
While Ethereum is showing promising signs, market sentiment remains mixed. Some traders on social media have pointed to erratic Bitcoin price spikes, including a recent surge to $95,013.26, as potential evidence of manipulation, raising questions about the sustainability of current price trends across the crypto market.
Still, Ethereum’s recent performance, backed by strong inflows and whale accumulation, paints a cautiously optimistic picture. With major resistance levels in sight and institutional interest on the rise, the coming weeks could prove pivotal for ETH’s medium-term trajectory.
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